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re: If the US enacted a true flat rate tax, what would be the ideal tax rate?
Posted on 1/25/14 at 6:30 pm to Zach
Posted on 1/25/14 at 6:30 pm to Zach
quote:
Steve Forbes says 16%. But the key is NO deductions. Once you construct the law and allow a single deduction to stay in place then you open up the floodgates and it won't work.
Disallowing deductions for mortgage interest (the average taxpayers largest deduction) would become a deterrent to home purchases as the marginal cost of same would drastically increase. Also you can kiss goodby a majority of charitable contributions, because there would be less money for same.
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